EUR/JPY breaches 115.00, session lows

The buying interest around the Japanese currency has prompted EUR/JPY to break below the key support at the 115.00 handle.

EUR/JPY lower on stimulus talks

The cross met increasing selling pressure after market participants perceived the imminent stimulus package in Japan could disappoint expectations.

The demand for the safe haven has accelerated as Japanese officials failed to give markets further direction regarding the size/composition of the additional easing measures.

Nothing noteworthy in the European docket today, although market chatter around the potential stimulus to be delivered by the BoJ at its meeting on Friday is poised to drive market sentiment throughout the session.

EUR/JPY relevant levels

At the moment the cross is losing 1.06% at 115.06 facing the immediate support at 113.98 (50% Fibo of 109.47-118.49) followed by 112.92 (61.8% Fibo of 109.47-118.49) and then 110.54 (low Jul.8). On the other hand, a surpass of 118.49 (high Jul.21) would expose 121.36 (100-day sma) and finally 122.11 (high Jun.24).